TECH ADOPTION
Tech-first brokers hit a snag; Foxconn’s Bharat FIH in trouble
Happy Thursday! Online stock brokers, who used low fees to attract customers, now face an uncertain future with Sebi’s new rules. More on this in today’s ETtech Morning Dispatch.
IT stocks rally up to 32% in 1 month. Will Q1 results mark end of sluggish revenue growth?
IT sector experiences bullish rally ahead of Q1 results with Tech Mahindra, Coforge, and Infosys emerging as top stock recommendations.
Why the Digital Competition Bill has started a polarising debate in the tech industry
India’s Digital Competition Bill has turned previous foes in the tech industry into unlikely allies and sparked a polarising debate on market practices. The Committee on Digital Competition Law (CDCL) on February 27, submitted its report to the ministry of corporate affairs (MCA) after working on it for more than a year.
Bihar to host mega investor summit in Dec; roadshows from Monday
Bihar will roll out the red carpet for domestic and foreign investors at a mega event in December as it looks to lure investments in sectors like textiles, food processing and EVs that will create jobs and boost business in the state. After the grand success of the 2023 edition, the state will host the two-day Bihar Business Connect event on December 11 and 12 in Patna. And before that, it will hold roadshows in different cities, beginning with Kolkata on Monday.
Video commerce offerings gain traction, Indians spent over 2 mn hours video shopping: Flipkart
Flipkart announced on Thursday that its video commerce platform has seen significant adoption, with Indian customers spending over 2 million hours on it from June 2023 to May 2024. The increase in usage highlights the growing trend of video commerce in India, driven by tech-savvy and digitally inclined consumers.
How GenAI is opening up new revenue streams for IT firms and GCCs
The rise of generative AI (GenAI) presents an opportunity for IT firms to unlock new revenue streams. Companies like Accenture, Infosys, and Tech Mahindra, alongside global capabilities centers (GCCs), are seeing a surge in data standardisation work. This is driven by the vast amount of "uncleaned/unstructured" data held by their clients and parent companies.
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Apple charged with violating EU's antitrust tech law, may have to pay fine of $38 billion.
Apple has become the first US tech giant to be charged under the European Union’s tough new antitrust tech law. If found guilty, its fine may soar up to $38 billion.
Property digitisation benefits all: Enhancing transparency and efficiency in the real estate sector
The new government announces assistance for 3 crore homes under the Pradhan Mantri Awas Yojana, reinforcing GoI's commitment to affordable housing and potentially boosting GDP by over $500 bn.
Japan sanctions Bengaluru tech company over Russian war 'support'
Japan has sanctioned Bengaluru-based Si2 Microsystems Pvt Ltd, an Indian tech firm, for allegedly supporting Russia's war efforts. This move, part of broader sanctions including firms from China, the UAE, and Central Asia, marks Japan's first targeting of foreign companies over Ukraine-related issues. The sanctions may strain the growing strategic partnership between Japan and India. Si2 Microsystems, involved in various high-tech projects, including government space initiatives, is now under scrutiny. Japan's tougher stance against Russia, influenced by Western pressures, contrasts with its previous policies, recalling sanctions imposed on India after the 1998 nuclear tests.
Devgad's mango farmers save Aam & Janata with tech
Devgad mango growers in Maharashtra's Konkan region have faced challenges with maintaining the authenticity of their premium hapus (alphonso) mangoes due to adulteration by cheaper varieties. To combat this, they have adopted a new technology-driven solution involving unique stickers on each mango. These stickers reveal a code when partially peeled, which consumers can verify for authenticity by sending a photo to the farmer's cooperative.
New Coinbase smart wallet sparks BTC, ETH surge; Raboo Presale hits $1.6M as crypto adoption booms
The new Coinbase smart wallet boosts Bitcoin and Ethereum accessibility, driving their value. Raboo's innovative features attract investors, positioning it uniquely in the market. The future of crypto looks promising with these developments.
HCL Technologies launches Enterprise AI Foundry
HCL Technologies said in a media release that, the company launch of HCLTech Enterprise AI Foundry to "simplify and scale enterprise AI journeys." The release further added, that this platform will effectively enable business leaders to focus on real-world outcomes and help development teams build next-gen AI-powered applications with ease.
PropTech investment reaches $4.6 billion since last decade
PropTech firms have seen a significant growth in investment since FY 2011, with a total of $4.6 billion in the last 14 years. This growth is attributed to the transformative impact of technology on the real estate industry, driving efficiency and innovation. Despite global economic uncertainties, PropTech firms' funding experienced a marginal dip in FY 2024, with investments totaling $657 million, down from $683 million in FY 2023. The shared economy and construction technology segments have emerged as leaders in the PropTech space, with 55% and 23% of the overall private investments in FY 2024, respectively.
Why does India have the first mover advantage in Web3 technology?
While regulatory clarity remains a work in progress, India's embrace of the Financial Intelligence Unit (FIU) registration requirement is a positive step, creating a safer trading environment for all.
India ranks first in adoption of GenAI across Asia Pacific: Deloitte survey
The report, titled ‘Generative AI in Asia Pacific’, said 93% of students and 83% of employees in the country are actively engaging with GenAI.
Digital India sparks rush for new-age software engineers
Demand for software engineers trained in emerging technologies is rising, creating 9-10 lakh additional jobs in the next 18 months. The surge is fueled by advancing technology and digital adoption, leading to fresh opportunities in AI and related fields like AI specialists and data scientists. GenAI is enabling non-technical employees to become citizen developers.
Tax incentives can help enhance adoption of sustainability manufacturing: Experts
Financial incentives like tax breaks and subsidies can boost the adoption of green manufacturing practices. Experts emphasize the need for sustainable supply chains and investments in energy-efficient technologies. Companies are increasingly focusing on sustainability, with Indian firms leveraging sustainable loans and investing in recycling.
Technological factors can stall or spur adoption of EV 2-wheelers
The technological factors affecting electric two-wheelers (EV 2Ws) are integral to their development and widespread adoption in India, say EV industry stakeholders.
AI adoption in key Indian sectors touches 48% in FY24
A Teamlease Digital study revealed high AI adoption in pharma and healthcare (52%), followed by FMCG and retail (43%). Manufacturing (28%) lagged behind, while infrastructure & transport (20-22%) and media & entertainment (10-12%) saw the least adoption.
If AI can disrupt future, track these 9 artificial intelligence stocks
Generative AI's disruptive potential attracts investors in Indian IT. Revenue challenges due to adoption lag. Companies explore deep learning in Gen AI. Happiest Minds and Affle offer AI services. BCG predicts growth in India's AI market.
India ahead of advanced countries like Germany & Australia in AI adoption and innovation: Report
India emerges as a frontrunner in AI adoption and innovation, according to a recent report by NetApp. While India, Singapore, the UK, and the US lead in AI implementation, Spain, Australia, and Germany lag behind. Surveying 1,300 executives across ten nations, the report reveals that 60% of leading countries have operational AI projects, compared to 36% in lagging countries. This divergence emphasizes AI's pivotal role in economic growth and competitiveness.
Retailers to continue hiring in 2024, focus on tier 2, 3 cities : Report
In 2024, retail jobs surge with the operationalization of brands expanding from 2023, driving demand by 15-20%. E-commerce, despite startup leadership, faces hiring challenges. Logistics saw a dip. Retailers target fresh grads (52%) and experienced pros (38%). Tech adoption, sustainability, and skill development are key industry trends amid exponential e-commerce growth.
The rise of Airchat & growing debate over navigating Internet with voice: can it gain momentum?
Voice input technology faces challenges despite widespread adoption in internet products. Smart speaker shipments decline, while the voice recognition market is poised for significant growth. Users with visual disabilities encounter accuracy issues with voice commands.
Accenture introduces adoption-assistance programme for India employees
Accenture in India has launched a program to support employees choosing to adopt a child, providing financial assistance for adoption-related expenses, with each employee eligible for this benefit for up to two adoptions. Lakshmi C, managing director and lead - human resources at Accenture in India, emphasized the initiative's aim to bolster existing policies for supporting parenthood.
Talent AI-volution: Can AI adoption dent India's tech edge?
India is the tech powerhouse of the world, known for its engineering prowess. But can the widespread adoption of AI, which will lead to significant automation, dent India’s talent edge? Annapurna Roy and Beena Parmar report.
What’s new in paw-some perks? Insurance, leaves & more
New-age companies like WeWork, DriveU, InMobi, Simpl, and Bizongo are embracing pet-friendly policies and practices to accommodate employees with canine companions. These companies offer pet insurance plans, special leave for pet care, employee resource groups, adoption drives, and time off to mourn the loss of pets. Pets are considered a part of the family and have a positive impact on morale, productivity, and stress reduction.
How three high-tech countries became laggards in electric vehicles
The US and South Korea, for example, are a category unto themselves for maintaining a relatively slow pace of EV growth even after EVs surpassed 5% of new vehicle sales.
EU adopts measures soon to curb election risks on X, TikTok, Facebook
EU to implement DSA guidelines next week for Big Tech to address illegal content and election risks or face fines. Meta Platforms already taking steps. Companies could be fined up to 6% of annual turnover.
IBM disagrees with closed LLM approach adopted by Big Techs
IBM's chief privacy and trust officer Christina Montgomery said the way to develop AI models is to be inclusive and transparent about the datasets used to train LLMs.
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